WCM Investment Management LLC Sells 23,785 Shares of AtriCure, Inc. (NASDAQ:ATRC)

WCM Investment Management LLC trimmed its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,801 shares of the medical device company's stock after selling 23,785 shares during the quarter. WCM Investment Management LLC owned approximately 0.39% of AtriCure worth $5,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ATRC. Assenagon Asset Management S.A. grew its stake in AtriCure by 151.6% in the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company's stock valued at $6,425,000 after purchasing an additional 138,046 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in AtriCure by 31.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company's stock valued at $14,038,000 after purchasing an additional 119,929 shares in the last quarter. Champlain Investment Partners LLC grew its stake in AtriCure by 4.3% in the third quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company's stock valued at $78,253,000 after purchasing an additional 115,813 shares in the last quarter. Two Sigma Advisers LP grew its stake in AtriCure by 14.6% in the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company's stock valued at $18,621,000 after purchasing an additional 84,700 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in AtriCure in the third quarter valued at approximately $1,991,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on AtriCure from $40.00 to $51.00 and gave the company an "overweight" rating in a research note on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 price objective on shares of AtriCure in a research report on Monday. Piper Sandler raised their price objective on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus raised their price objective on AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Canaccord Genuity Group raised their price objective on AtriCure from $61.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.56.

AtriCure Stock Performance

NASDAQ:ATRC traded down $2.77 during mid-day trading on Thursday, hitting $39.59. 1,284,964 shares of the stock were exchanged, compared to its average volume of 608,585. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -47.70 and a beta of 1.46. The firm's 50-day simple moving average is $35.52 and its 200 day simple moving average is $31.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.